Gold, silver rates today: Gold and opened in a negative territory on Wednesday, March 11, after remarks from US officials regarding the Middle East conflict, which has heightened volatility in energy markets.
Spot was down marginally; however, it remained above the $5,200 level. The yellow metal was trading 0.34% lower at $5224 per ounce. Meanwhile, spot silver prices were also trading in red, down 0.32% to $89.35 per ounce, during the Asian trading hours.
What’s driving gold and silver prices?
According to a Bloomberg report, the White House said the US had not escorted an oil tanker through the Strait of Hormuz, contradicting a now-deleted social media post by Chris Wright. Oil prices rebounded after declining sharply on Tuesday.
The conflict, which has entered its 12th day, continues to disrupt crude production and refining operations across the Middle East.
The Pentagon was quoted as saying by Bloomberg that the US and Israel carried out their most intense round of attacks yet against Iran and would persist until the Islamic Republic is defeated, adopting a more aggressive tone after Donald Trump earlier suggested the conflict could end soon.
Pete Hegseth said on Tuesday morning that “today will once again be our most intense day of strikes inside Iran.” Speaking at the same Pentagon briefing, the chairman of the Joint Chiefs of Staff stated that Iran’s missile attacks have dropped by about 90%.
Meanwhile, addressing the media on Monday, Donald Trump said the US administration plans to lift oil-related sanctions and indicated that the war could end soon, easing market worries that had driven prices to multi-year highs. However, hours later, Trump warned in a social media post that the US would sharply escalate its attacks if Iran attempted to shut the Strait of Hormuz.
What should investors do?
Tata Mutual Fund, in its – March 2026 report, recommended investors to reiterate investing in both gold and silver over supportive fundamentals and market uncertainties.
The report further noted that the current geo-economic factors may support gold and silver prices with the addition of structural and cyclical fundamental factors.
“ Investors may look for accumulation on any decline in the prices. We still believe that the overall market environment is going to be favorable for a strategic allocation in gold as a long-term investment in portfolio,” the firm said in the note.
Meanwhile, on the silver prices, it added, “Silver is a developing growth story, and the trend is highly dependent on broad recovery in industrial demand. One can look for staggered approach to invest in the medium term to long term investment considering the volatile nature of the commodity.”
On the technical outlook of the gold prices, Ponmudi R, CEO of Enrich Money, said that after surging to previous all-time highs, the metal has entered a corrective phase. The broader bullish framework remains intact, supported by sustained momentum and strong breakout continuation from prior consolidation zones.
“Strong buying interest is visible in the $5,000–$5,100 support band, while a break below this band could trigger further downside toward the $4,900 level. As long as gold holds above the $5,000 support zone, the broader bullish trend remains dominant. A sustained breakout above $5,400–$5,600 could open the path toward fresh record highs,” Ponmudi said.
Meanwhile, on the silver prices outlook, he added that the broader bullish structure remains intact on higher timeframes. Prices have reclaimed major moving averages, signaling a transition from correction toward potential renewed strength.
“Strong buying interest is evident in the $76–$80 support zone. A sustained recovery above $90–$95 could reignite momentum toward $100–$110 and potentially retest previous highs. The medium- to long-term outlook remains constructive, supported by safe-haven demand and evolving global cues, even amid ongoing volatility,” he said.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.